Polish Enterprise Fund VII (F.Enterprise Fund 2012)

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The EBRD is considering a scalable equity investment of up to €80 million in Polish Enterprise Fund VII (the “Fund”), a private equity investment fund targeting €650 million in commitments. The Fund will seek to achieve long term capital appreciation by making equity and equity-related investments in medium-sized companies which require capital to take advantage of growth opportunities and a hands-on partner to help them execute their business plans. The Fund will invest in companies established throughout Central and South Eastern Europe (“CSE”). By investing in the Fund, the EBRD will support a leading, locally based private equity group with a strong track record in the region. The transition impact will come from the following areas: (i) supporting the growth and development of mid-market enterprises in CSE, to a stage where they can access strategic FDI or public markets capital through providing the equity investment combined with the Fund Manager’s know-how and expertise; (ii) supporting the nascent asset class in CSE during a period of investor uncertainty over the Eurozone and over the impact of ongoing regulatory changes, and strengthening the number of fund managers actively investing in CSE during a challenging fund raising environment; and (iii) demonstrating sound corporate governance standards and business conduct in the investee companies through influence on strategic decisions and best operational practices. The Fund will be registered as a Cayman Islands limited partnership and will be managed by Enterprise Investors Corporation (“EIC”), based in Delaware. Founded in 1990, EIC is an established private equity fund manager in CSE. It has led a number of prominent investments over the course including the first company listed on the WSE by a PE firm. It has contributed to setting industry standards by founding and leading numerous initiatives of the Polish Venture Capital Association, supporting the development of an equity culture in CSE. Equity investment of up to €80 million to the Fund. The Fund is targeting maximum commitments of €650 million. Categorised FI. The Fund shall comply with the EBRD Performance Requirements 2 (Labour and Working Conditions) and 9 (Financial Intermediaries), and implement the EBRD’s Environmental and Social Procedures for Active Equity Investments. The Fund shall ensure investee companies comply with national environmental, occupational health and safety standards, social and labour standards. The Fund will be required submit annual environmental and social reports to the Bank None. Jacek Siwicki President, Enterprise Investors Warsaw Financial Center ul. Emilii Plater 53 00-113 Warsaw, Poland Tel.: +48 22 458 85 00 Fax: +48 22 458 85 55 E-mail: jacek.siwicki@ei.com.pl